ANZ Money Manager Organises Accounts From Multiple Banks

ANZ01.jpg One of our more frequent complaints here at Lifehacker is that Web-based applications for money management like Mint and Wesabe have poor (or non-existent) integration with Australian banks and other financial institutions. In recent weeks, several readers have emailed us to sing the praises of the ANZ Money Manager site, which offers similar features -- automatically importing financial data from your online banking accounts, tracking spending, and helping plan budgets -- and works with a wide range of Australian financial institutions.

Despite the fact that ANZ has built the app (and offers a login for it on its own site right next to its regular Internet banking), it's not restricted to ANZ customers -- anyone can use it free of charge. Security for the site is handled by Verisign, so there's little reason to worry about your account data provided you follow sensible general security practices like keeping your system patched. I tested it out in Firefox and IE, and it ran fine in both.

For Australian users, by far the most appealing immediate feature is the ability to log into a wide range of online accounts without needing special import routines. The easiest way is to search via the name of your bank (or other financial institution), which will produce a range of relevant options. Choose the right one, enter your login details, and information will be imported automatically.

I bank with two non-ANZ institutions, and both imported accurately without incident. Note that the site won't necessarily track all related accounts unless you tell it to explicitly -- even though I can view my main business, savings and credit card accounts through a single login with one bank, I had to add the credit card separately to get it to show up. Once accounts are added, they're updated in the system once every 24 hours.

Money Manager automatically categorises your expenses as it imports them. You can rename the existing categories, create your own new ones, re-categorise any that the system missed, and build rules to automatically process regular expenses into the appropriate categories. I found the system did a fair job, though it missed a few obvious ones (like Foxtel and Qantas).

I'm in the process of sorting through my budget data and setting up some goals, which I'll cover in a future post. If you've already settled into Money Manager, share your experiences in the comments.

Lifehacker's weekly Loaded column looks at better ways to manage (and stop worrying about) your money.

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Comments

    Yodlee offers the same functionality for some time now. It does have support for a lot of Australian Banks. I have successfully used it with my ANZ, Citibank, AMEX and HSBC accounts. I am quite certain that ANZ Money Manager is using http://yodlee.com/ behind the scenes.

    I love this app. I started using it about 2 months ago and it is just so easy to use. I have setup my own categories so I can track my spending. It is also great to see exactly how much I spent in each of these categories.

    Didn't the ANz front get hacked recently? Huh!?

    Some banks, such as HSBC doesnt seem to work with this.

    ANZ Money Manager doesn't support ING Direct savings accounts and apparently won't in the forseeable future. To complicate things more, they list ING Direct accounts in the "Add Account" drop down list but these are the American sites and will ask you personal security questions to authenticate that ING Direct Australia hasn't. That's a showstopper for me.

    I am an NAB customer and refuse to put my NAB Internet Banking Username and Password into any other website. I spoke to the NAB and they agreed.

    I've looked at this one and realise it has lot of limitation. One thing I seriously question is privacy. You basically give them details of your external to them accounts and they collect your balances?!
    Look at www.ewise.com.au it is free and support most of Australian financial institutions (I have ANZ,ING, Westpac, HSBC, MLC, Vodafone, Telstra). The key is they do it through client scripts and they do not know your financial details. Check it out. I use it since 2005.

    Is anyone having success using this with a Bendigo Blue Debit Visa account?

    ANZ moneymanager worked great for about 6 months. Then it lost 6 months worth of transactions on my CBA mastercard account. I've requested help and waited and waited but ANZ have not returned any support requests for 3 months now. When i've called they politely tell me nothing. hmmmm.

    Does anz money manager allow you to see outgoing expenses? (EG. let you map when bills are due etc)?

      Sure does mate!

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